Russian, US senior officials discuss lifting Jackson-Vanik amendment

Business people in both countries are interested in lifting barriers that restrict the access of Russian companies to the U.S., Russia’s Industry and Trade Minister Manturov...

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MOSCOW, October 30 (Itar-Tass) — Russia’s Industry and Trade Minister Denis Manturov and U.S. Under Secretary of State for Economic, Energy and the Environment Robert Hormats have discussed stronger cooperation in cancelling the long-standing Jackson-Vanik amendment, the ministry’s press service said on Tuesday.

The meeting took place on October 29.

Manturov emphasized that over the last years Russian-U.S. relations have been developing constructively.

“Along with this the current level of trade and economic cooperation does not fully tap the potential Russia and the United States have,” he said. “It is necessary through joint efforts not only to boost such cooperation, but also to increase its quality and diversify its structure” placing a special focus on industry and science.

Manturov and Hormats discussed prospects for enhancing cooperation in the aircraft and car making industries, pharmaceutics, tool engineering and other high-tech industries.

“We have good prospects for maintaining joint projects in pharmaceutics,” he said. “The whole range of Russian companies has already been actively cooperating with their U.S. counterparts. We attach importance to investments injected into localization of high-tech medicine deep processing production in Russia and the creation of full cycle production.”

The minister highlighted that further stronger cooperation in these and other spheres is impossible without barriers that restrict the access of Russian companies to the U.S. market, first of all the Jackson-Vanik amendment, being lifted.

“I know that business people in Russia and the United States are interested in lifting these barriers,” Manturov said.

Robert Hormats arrived in Russia on a working visit. During his stay he will meet with several ministers and will take part in the Moscow International Forum for Innovative Development “Open Innovations.”